Over the past few years the Brazilian financial market has blossomed, with an unprecedentedly open attitude towards technology and modernisation. For a country that has been historically conservative when it comes to monetary policy and burdensome bureaucracy, Brazil is now embracing innovation, and allowing new ideas to form and shake up the traditional standards and practices of its banking industry.
According to CB Insights, Brazil is Latin America’s leading tech hub. It accounts for most of the US$1 billion in venture capital invested in the region last year, and registered over 450 technology-oriented start-ups in 2018. Since 2014, there has been a sharp growth in new projects favouring business models built on technology, striving for sectors typically overlooked by larger players.
By Bruno Balduccini, Marília de Cara and Thomaz Braga de Arruda via Who’s Who Legal